Westpac and Offshoring – Update

The Premier of New South Wales, in an unwise fit of populism, has
implicitly threatened Westpac that, if they dare to offshore some of
their operations then this “would be taken into consideration” when
their contracts are up for renegotiation.

This sort of threat is both bad for business generally, but also bad
for New South Wales – even the threat means that companies will have to
price in some political risk if they are to do business with the NSW
government in the future. Having a government trying to make companies
make business decisions on the basis of politics is unwise, at best.

1 comment

My
name is Jeffrey Hutton. I’m a reporter with the Australian Associated
Press. I’m doing a story on offshoring and I was hoping to talk with
someone there about the offshoring of financial services from Australia.
Could you send me an email at jhutton@xxx.xxx.xxx [Admin edit to reduce spam] or give me a call on 02 9322 8735